1. Field of the Invention
The present invention relates to a method for supporting an exchange transaction.
2. Prior Art
The principle of monetary economy is in that an act of purchase is separated from an act of sale. For example, if a person cannot find a product that the person wishes to buy immediately after the person has sold a product, the person normally maintains purchasing power by holding the money and spends time to find a product that the person wishes to buy. Since a conventional financial transaction is premised on this principle, a customer has to pay fees respectively at the time of dissolution of a position and at the time of creation of a position in a financial instrument. Also, in transaction markets today that fluctuate intensely, a time lag between an act of dissolution and an act of creation instead increases market risks.
Incidentally, land, buildings, and compound real estate properties that are defined as combinations of both, are originally asset management products whose nature is different from that of financial instruments. However, as securitization of real estate utilizing special purpose vehicles and investment trusts prevails, their status as jointly managed products divisible into small lots is established. In line with this trend, opportunities for arbitrage transactions, with securitized products such as real estate-backed securities and real estate investment trusts as media, have been created in asset management between said real estate asset management products and such financial asset management products as loan assets, bonds and equities. Thus, there has been less meaning in discussing on an unequal footing real estate asset management products and financial asset management products.
Also, in the real estate markets as well, indicators that show fluctuation of the entire markets like equity indices do have been developed, and derivative transactions with these real estate indices as underlying numerical values are expected to grow.
On the other hand, commodity futures, commodity options, commodity futures options, commodity price swaps and the like, with commodity products such as precious metals, nonferrous metals, energy-related products and primary industry products as underlying products, have already established their status as quasi-financial instruments due to their nature of transactions that virtually allows net settlement. Also, commodity funds as well, with these commodity derivative products and financial derivative products as objects of their investment, are positioned as fund-type financial products similar to securities investment trusts and the like.
However, the transaction markets today are largely segmented into markets for financial instruments, markets for real estate products and markets for commodity derivative products, and the respective markets are further segmented by each product. Consequently, this deprives the respective products of liquidity, distorts their value at the time of dissolution of positions, and thus disadvantages customers.
Accordingly, it is an object of some embodiments of the present invention, in order to solve the above-described problems, to provide a computer-readable storage medium storing an exchange transaction program for financial and/or related instruments and an exchange transaction system for financial and/or related instruments that create one or more exchange transaction markets for at least one of financial instruments and quasi-financial instruments via at least one computer network and mutually match a demand to dissolve a position and a demand to create a position of customers such as asset managers, capital raisers and/or capital transactors, and to provide an exchange transaction method for products.
Moreover, it is a further object of some embodiments of the present invention to provide a computer-readable storage medium storing an exchange transaction program for financial and/or related instruments, an exchange transaction system for financial and/or related instruments, and an exchange transaction method for products that offer an environment in which an act of dissolution and an act of creation can be simultaneously performed and thus enable a customer to save fees payable to an intermediary or the like, that eliminate the time lag between an act of dissolution and an act of creation and thus minimize market risks between the acts, and that establish a marketplace for cross-transactions which transcends excessively segmented transaction markets and thus make it possible to improve the liquidity of respective products.
Furthermore, it is yet another object of some embodiments of the present invention to enable new types of arbitrage transactions and leveling of cash flows regarding asset management products, capital raising products and/or capital transaction products, to increase efficiency of reestablishment of portfolios and asset/liability management, and to provide new methodologies of asset management regarding control of businesses, cross-equityholding, credit accommodation, selection of parties to be entrusted with asset management, and/or the like.